STEPN is a play-to-earn and fitness app on the Solana blockchain. It incentivizes users to live a healthier lifestyle by allowing them to earn in-game currency, called Green Satoshi Tokens (GST), through physical activities such as walking, running, or jogging. Users buy NFT sneakers to participate in the game, with different sneakers earning different rates of GST per minute. The app gamifies movement and also contributes to carbon neutrality through buying Carbon Removal Credits on Solana. STEPN uses a dual-token model with GST as the utility token and GMT as the governance token. The app was founded in 2021 by Yawn Rong and Jerry Huang and has received investment from major crypto venture capital firms.
STEPN (GMT) is a utility token that operates as a governance token in the STEPN platform. It is earned by users after they level up their NFT sneakers to level 30. GMT has a total supply of 6 billion tokens, with a circulating supply of 600 million. As a governance token, GMT holders have a say in the direction and development of the STEPN platform. It is currently trading at $0.489856 USD and has a market cap of $293,913,781 USD. The top exchanges for trading in STEPN are Binance, BTCEX, Deepcoin, OKX, and Bybit.
How to buy $GMT with a payment card
1. Enter the amount of $GMT and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $GMT wallet
You are given the option to enter your $AVAX wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $GMT with a credit and debit card.
Market Position and Adoption: GMT (STEPN) is currently ranked at #150 among cryptocurrencies and tokens, with 237,053 watchlists on www.stepn.com. The token is built on the Binance Smart Chain (BEP20) and has gained traction in various sectors such as collectibles & NFTs and gaming. The price of GMT is $0.3688 with a 24-hour increase of 2.74%. The market capitalization of GMT is $221,283,477, with a 24-hour volume of $46,655,952, indicating a moderate level of market adoption.
Technology and Platform: GMT is based on the Binance Smart Chain (BEP20) blockchain, which is known for its fast and low-cost transactions compared to other blockchains. The use of BEP20 makes GMT compatible with a wide range of decentralized exchanges (DEX) and wallets that support the Binance Smart Chain ecosystem. The technology behind GMT allows for secure and efficient transactions, making it suitable for various use cases, including collectibles and gaming.
Team: The team behind GMT (STEPN) is not explicitly mentioned in the provided information. Further research is required to gather more details about the team and their experience in the cryptocurrency and blockchain space. Evaluating the team's expertise and experience is important when assessing the potential of a cryptocurrency project.
Competition: As with any cryptocurrency, GMT faces competition from other tokens and cryptocurrencies in the market. The cryptocurrency market is highly competitive, with numerous projects vying for attention and investment. GMT's competition may come from other BEP20 tokens or tokens with similar use cases in the collectibles and gaming sectors. It is important to consider the competitive landscape and how GMT differentiates itself from others when evaluating its potential for growth and adoption.
Supply: GMT has a total supply of 6,000,000,000 tokens, with a circulating supply of 600,000,000 GMT, which represents 10% of the total supply. The fully diluted market capitalization of GMT is $2,212,667,577. Understanding the token supply and its distribution is crucial for assessing the token's potential for value appreciation and price stability over time.
1. Market Volatility: The cryptocurrency market, including GMT, is known for its high volatility, with prices capable of experiencing rapid and significant fluctuations. The value of GMT may be impacted by various market factors such as supply and demand dynamics, market sentiment, regulatory changes, and macroeconomic events, which could result in losses for investors.
2. Regulatory Risks: Cryptocurrencies, including GMT, are subject to regulatory oversight in different jurisdictions, and changes in regulations or government policies could impact their legality, use, or value. Increased regulatory scrutiny or restrictions on cryptocurrencies could negatively affect GMT's adoption, liquidity, and overall value.
3. Competition: The cryptocurrency market is highly competitive, with numerous projects and tokens vying for attention and investment. GMT may face competition from other tokens or cryptocurrencies with similar use cases, technologies, or market positioning. Increased competition could impact GMT's market share, adoption, and price performance. Technology Risks: GMT relies on blockchain technology, which is still relatively new and evolving. There are risks associated with the security, scalability, and functionality of the underlying technology, including potential vulnerabilities, hacks, or other technical issues that could impact the value and functionality of GMT.
4. Team and Project Risks: The success of GMT may depend on the expertise, experience, and execution of the team behind the project. If the team faces challenges in delivering on their promises or lacks sufficient experience, it could impact the development, adoption, and value of GMT.
5. Liquidity Risks: Cryptocurrency markets can also experience liquidity risks, with low trading volumes, limited market depth, and potential price slippage. Illiquidity in the GMT market could impact investors' ability to buy or sell tokens at desired prices, potentially resulting in losses or difficulties in exiting positions.
6. Investor Sentiment and Speculative Nature: The value of GMT and other cryptocurrencies is often influenced by market sentiment, speculation, and investor psychology. Changes in investor sentiment, perception, or speculation about the future prospects of GMT could impact its price and market dynamics.
Potential market development triggers
Increased Adoption in Real-World Use Cases: If GMT gains increased adoption in real-world use cases, such as being integrated into popular applications, platforms, or industries, it could drive demand for the token. For example, partnerships with major companies or platforms that utilize GMT for payments, rewards, or other purposes could lead to increased token utilization and demand.
Expanded Listing and Trading on Major Exchanges: Listing GMT on major cryptocurrency exchanges, particularly those with high trading volumes, could increase the token's visibility, liquidity, and accessibility to a larger investor base. This could potentially lead to increased trading volumes and price appreciation.
Positive Regulatory Developments: Favorable regulatory developments, such as increased clarity or supportive regulations around cryptocurrencies and blockchain technology, could create a more conducive environment for GMT's adoption and use. Regulatory recognition or approval from relevant authorities could enhance investor confidence and attract more users and investors to the GMT ecosystem.
Technological Enhancements and Upgrades: Further technological advancements or upgrades to the GMT blockchain, such as improved scalability, security, or functionality, could enhance the token's utility and attract more users and developers to the platform. For example, the introduction of new features or capabilities that address existing limitations could lead to increased demand for GMT.
Strong Community Engagement and Development: A vibrant and engaged community of users, developers, and supporters could contribute to the growth and development of the GMT ecosystem. Community-driven initiatives, such as hackathons, events, or partnerships, could drive adoption, awareness, and positive sentiment around GMT.
Market Expansion and User Growth: Expanding the market reach and user base of GMT beyond its current target audience could lead to increased demand for the token. For example, entering new geographical markets or attracting users from different industries or sectors could broaden the token's adoption and potential use cases.
Positive News and Market Sentiment: Positive news, sentiment, or endorsements from influential figures, industry experts, or media coverage could create positive momentum for GMT in the market. Positive sentiment and perception could attract more attention, interest, and investment in the token.